The Manitoba government has extended funding through 2016-17 for Innovate Manitoba, a not-for-profit, community-based organization committed to accelerating innovation and the commercialization of new technologies. This announcement was made by Jobs and the Economy Minister Kevin Chief.
“Innovation is vital to Manitoba’s economy, and innovative ideas and companies start, grow and thrive in communities that provide a solid system of support,” said Minister Chief. “By investing in Innovate Manitoba, we’re helping small- and medium-sized enterprise and ensuring local innovators, entrepreneurs and investors receive the help they need to take their innovations from idea to market.”
Created in 2012, Innovate Manitoba promotes entrepreneurship, supports the creation of next-generation startups and stimulates access to risk capital for early- and mid-stage enterprises. It serves the needs of Manitoba’s entrepreneurs, researchers and inventors through a variety of programs and events including, but not limited to:
- Pitch’Day – a dynamic event that provides anyone with a business idea the chance present their pitch to an expert panel of judges and an audience of Manitoba’s entrepreneurial community.
- Launch’Pad – a startup workshop and intensive boot camp presented by experienced national and international investors who provide capital for business startups. Launch’Pad helps ventures improve their business models and prepare investor-friendly business plans and pitches.
- Venture’Challenge – Manitoba’s premier pitch competition featuring the top six ventures from Launch’Pad, competing for cash and in-kind prizes before reputable judges.
- IndustryCONNECTS – training academic researchers to translate and position their research more effectively with industry players, and connecting researchers and industry to establish innovative research partnerships.
“The province’s financial support ensures that we will continue our momentum in supporting Manitoba’s innovation,” said Jan Lederman, president, Innovate Manitoba. “We’ve already hit some excellent milestones and witnessed quite a number of early success stories, but it all forms part of a longer-term strategy to transform Manitoba’s innovation capacity for generations to come.”
“Participating in Innovate Manitoba’s Launch’Pad accomplished for us in two days what would have taken us two years,” said Todd Habicht, founder, HD-Petroleum. “We came away with a much better understanding of our business offering and the confidence in knowing how to pitch our business to investors. We’ve now raised over $15 million in risk capital.”
“Innovate Manitoba has been invaluable in the process of both idea and business validation,” said Matthew Doak of ReclaimIO and GameChangr, both have which have been helped by Innovate Manitoba’s programs. “I can’t imagine getting as far as I have without the ongoing competitions, advice and cash support provided by Innovate Manitoba to help drive startups like us forward.”
Minister Chief noted the Manitoba government’s innovation support system is stronger than it has ever been, and he praised the efforts of organizations like Innovate Manitoba, the Winnipeg Chamber of Commerce, Startup Winnipeg, the Eureka Project and the Manitoba Technology Accelerator.
The new, three-year funding commitment will provide $300,000 annually through 2016-17.
